Dear Editor:
Re: complaints about the rising costs of ICBC.
Where were you when the Christy Clark government proudly proclaimed another balanced budget?
The balance was due to funds borrowed or taken from ICBC and B.C. Hydro.
This helped government hype but depleted needed money in the corporations.
All insurance companies, when left to run their own businesses, prudently keep a cushion in case of sudden insurance demands.
ICBC was left bereft.
Now it’s payback time. So vehicle insurance rates must go up to cover not only the missing money (hundreds of millions of dollars) but also to cover too many poor driving habits and increasing repair bills.
Given time, good management and fewer collisions, ICBC could again, as intended, be a viable public asset.
Sheila White
Summerland
